Business and Economy
Belt & Road Initiative to make PHL economic growth more inclusive
MANILA–China’s Belt and Road Initiative is expected to help developing nations, including the Philippines, create more opportunities for growth and uplift the lives of people which are in line with the thrust of the Duterte administration.
“For the Philippines, connectivity projects should complement and support Philippine development priorities, the Philippine Development Plan, the President’s 10-point socioeconomic agenda, and the ASEAN Master Plan on Connectivity,” said the Department of Foreign Affairs (DFA) in a statement.
The Philippines attended the Belt and Road Forum for International Cooperation, which was officially opened Sunday by Chinese President Xi Jinping in Beijing.
The DFA said the country is pleased to hear President’s Xi’s affirmation that the Belt and Road Initiative is meant to “complement other countries’ respective development strategies and that it promises to pursue growth and environmental protection hand-in-hand.”
It is optimistic that China’s initiative could be one of the international cooperation initiatives that will contribute to shared benefit.
Xi described the Belt and Road as a bridge for peace, a road to prosperity, a way to boost inclusive growth and balanced development, and to promote equality.
“We share his view that we need a peaceful environment to achieve our developmental goals. We are looking forward to the One Belt One Road initiative in promoting a prosperous and peaceful community of nations,” the DFA added.
